Construction Cost Contract Plus With Example In Illinois
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Description
The Construction Cost Contract Plus is a comprehensive agreement tailored for projects in Illinois, specifying the scope of work, insurance requirements, and payment terms. This contract defines the responsibilities of both the contractor and the owner, detailing the work site, necessary permits, and soil conditions. Key features include options for a cost-plus or fixed-fee payment structure, encouraging transparency on expenses. It incorporates provisions for changes to the scope of work through written change orders, allowing flexibility during the project. The contract also outlines late payment penalties and a limited warranty on workmanship, providing essential protections for both parties. Filling and editing instructions focus on accurately identifying the contractor and owner, clearly defining the project specifics, and ensuring compliance with local regulations. This document is particularly useful for attorneys, owners, and legal staff involved in construction projects, offering a solid framework for contractual obligations and financial arrangements in Illinois.
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